AI still has a way to go before it can fully compete with human traders and investors, but we should pay close attention to it, as developments are happening incredibly fast. 👀 Explore the possibilities and limitations of AI crypto trading! 👇
, lack the ability to predict where the market goes next, the more complicated AI systems have advanced enough to be able to predict market movements with surprisingly high accuracy.
Therefore, it is incredibly important that AI developers conduct proper testing on their trading bots, their rules and instructions before deploying them. In this testing phase, many issues can be identified, issues that would have caused financial losses if they were only identified when the AI is already deployed.
Moreover, AI can process a lot more data than any human could. This gives it a clear advantage over human traders. For example, it can recognize certain market behaviors and patterns and react to them far more efficiently, and faster too! This speed advantage is significant. This means it can react to market moves faster and enter a trade before a human even figures out what happened.
Another drawback lies in the development stage of AI. The decision-making algorithm operates based on the data that is provided to it, which makes it incredibly important that the data is reliable. As it stands, this data preparation is done by humans, which means even a well-developed AI is not immune to human error. The dataset can make or break an AI trading system.
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